IFCI surges 8% on possible disinvestment in SHCIL and ACRE

NEW DELHI: Shares of IFCI surged over 8 per cent in Monday's trade after the company in a filing to BSE said it was looking to partially disinvest equity holdings in Stock Holding Corporation of India (SHCIL).

The company's board meeting held on Monday also approved disinvestment of the entire stake of IFCI in Assets Care and Reconstruction Enterprise ACRE). Reacting to the board meeting outcome, the scrip gained 8.99 per cent to hit an intra-day high of Rs 29.70.